Even though we are at the tail end of a global pandemic, small businesses remain optimistic that the coming year will be a bright one. Unemployment is down, and online sales continue to soar. But if your particular business is struggling with growth, what gives?
There’s nothing more frustrating than pouring your heart and soul into a business that isn’t returning the results you want. Of course, it’s not uncommon to invest a substantial amount of time and resources on the front end of a new venture. But it should start paying off at some point, right?
If, despite your best efforts and a sufficient amount of time, you aren’t seeing growth or are experiencing sluggish growth, it’s time to figure out why. Here are some of the most common reasons for struggles with business growth.
1. Your Strategies Need Updating
Provided you spent some time thinking about your goals and vision when you started your business, they may need an update. Things move fast in the business world, and strategies might need adjusting as often as every few months.
For some businesses, outdated strategies can stunt growth. These might include things like focusing only on keywords, ignoring available data, and failing to leverage social media marketing.
2. You Ignore the Importance of SEO
Sure, you can pay for online traffic. But this is a short-term solution to boosting your results. If you want long-term growth, you need long-term solutions. Traffic building strategies like technical SEO, content marketing, and link building can help optimize your website for the search engines and help create a better user experience.
3. You’re Trying to Grow Alone
It’s tough enough to run a small business these days. If you’re trying to do everything on your own, such as handling all of the marketing and support services, something is going to fall through the cracks.
Not only that, but you are also likely sacrificing quality in some areas. Instead, devote your time and attention to the customer experience and choose the right business partners for other vital areas essential to growth.
4. You’re Not Tracking the Numbers That Matter
Data can get overwhelming. Not everyone loves digging into the details of what makes their business tick. But companies that want to experience growth will learn the difference between metrics that matter and ones that don’t.
For example, some metrics that probably won’t make a difference in your business growth are the number of your social media followers or free report downloads you get. But metrics you should be tracking include things like your conversion rate, cost per lead, and customer acquisition cost.
5. You’re Afraid That Asking for Help Will Cost Too Much
We get it. Entrepreneur Magazine reports that “reluctance to partner with complementary businesses or outsource tasks” is a major reason for business stagnation. But outsourcing tasks can help you save time and money because it frees up time and resources to devote to other tasks. A more focused business is a more productive and successful one.
We Can Help Kickstart Your Business Growth
If you want to take your business growth to the next level, start by teaming up with a partner you can trust. Since 2014, VisionPATH Marketing has been helping South Carolina small businesses reach new levels of growth. We begin by taking the time to understand your industry and particular business goals before we outline a strategy designed to produce the best possible results.
Our goal is to be your steadfast partner as we chart a course to give you the competitive advantage you need. Some of the solutions we use include web design, search engine optimization (SEO), social media marketing, online branding, digital advertising, and more. Contact us to schedule a free, no-obligation consultation to learn more about our services.